July 30, 2019− THG Holdings LLC and six affiliated Debtors (“THG” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-11689. The Debtors, one of the largest independent providers of laboratory management and diagnostic services in the United States, are represented by Derek…
December 21, 2018 – Oak Point Partners acquired the remnant assets of Deb Stores Holding LLC, et al., in December 2018. On December 4, 2014, Deb Stores and its affiliates filed a voluntary petition under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware, jointly administered under…
July 25, 2019 – The Debtor filed a motion requesting each of a bidding procedures order and a sale order [Docket No. 312]. The bidding procedures order would (i) approve bidding procedures for the sale of the Debtor's Western Mines and the Pax Mines (the "Sale"), (ii) approve Contura Energy, Inc. as a stalking horse…
July 24, 2019 – Carl Marks Advisors ("Carl Marks") has announced the addition of two new hires to bolster its restructuring and distressed debt capabilities; Daniel Ireland, who has joined as a Managing Director to focus on restructuring and corporate finance, and Paul Huettner who brings a decade of distressed debt experience to Carl Marks…
July 23, 2019 – Accepting an invitation by the Court to file an alternative Plan, a group of subrogation claim holders (the “Ad Hoc Subrogation Group”) filed a term sheet in respect of an alternative Plan; and, in order to file that Plan, filed a motion to "immediately" terminate the Debtors’ exclusive Plan filing and…
October 18, 2018 – Oak Point Partners acquired the remnant assets of the US Flow Corporation f/k/a Piping Supply Holdings, Inc., et al., Bankruptcy Estates in October 2018. On August 12, 2003, US Flow and its affiliates each filed a voluntary petition under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court…
July 22, 2019 – The Debtors requested Court authority to access (i) $100.0mn in debtor-in-possession (“DIP”) financing, including $65.0mn on interim basis, (the “DIP Term Loan”) and (iii) use of cash collateral [Docket No. 37]. The DIP facility as proposed also includes an option to borrow an additional $20.0mn (the "Incremental Facility"). The motion states,…
July 22, 2019 – An ad hoc committee of the Debtors' equityholders asked the Court for an order appointing a statutory committee of equity security holders (an “Equity Committee”) that they insist is needed to conduct an investigation regarding (i) the events leading to the Debtors' May 10, 2019, Restructuring Support Agreement (the “RSA”) with…
July 21, 2019 − PES Holdings, LLC and seven affiliated Debtors (“Philadelphia Energy” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-11626. The Debtors, who own and operate the Point Breeze and Girard Point oil refineries in Philadelphia, are represented by Laura…
July 19, 2019− Privately held Blackhawk Mining, LLC and 21 affiliated Debtors (“Blackhawk” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 19-11595. The Debtors, a Kentucky-based operator of ten coal mining complexes in West Virginia and Kentucky, are represented by Christopher M….
